Another day, another auction record smashed by an Hermes Birkin

Hermes Birkins seem to have a monopoly when it comes to setting records for the world’s most expensive handbag. Last year, a Birkin bag set the record after selling at auction for $377,000 at a Christie’s auction in Hong Kong. This year another Christie’s auction at the same city has produced a new world record. In fact, the bag in question is the same model: the ultra-rare Himalayan Niloticus Crocodile 30, but this time the bag brought in $382,000 from an unidentified overseas buyer.

The Himalaya Croc bag has some high profile fans including Kim Kardashian and Victoria Beckham, and it’s rumored that only 1 or 2 such bags are produced each year which (along with the diamond-studded hardware) is what drives up the cost. The popularity of this bag at auction and the fact that it has set world records two years in a row are certainly evidence of the fact that it is perceived as a worthy investment.

So what does nearly $400,000 get you in today’s bag market? The Birkin is of course made from crocodile leather which is dyed taupe at the edges and white in the center, a color scheme inspired by the snowcapped Himalayan mountains (hence the name). The weight or quality of the diamonds used on the hardware is not clear, but there is sufficient exclusivity in their presence and in the fact that Hermes does not often use them, to explain the value.